Greenland: Rare earth development plan canceled
-The impact on Chinese companies is inevitable-
Greenland Autonomous Government:
Uranium mining banned:
On November 9, a law banning uranium mining was passed.
Rare earth mining is also prohibited:
It also banned the mining of rare earths in southern Kuannersuit.
Inevitable blow to China:
China is planning to mine rare earths in the area.
The blow to China is inevitable.
World’s largest reserves:
A deposit in the southern part of Danish Greenland.
The reserves of rare earths and uranium are said to be one of the largest in the world.
The Epoch Times
https://www.epochtimes.jp/2021/11/81818.html
Greenland bans uranium mining, blocks rare earths project
Greenland’s parliament
has passed a bill to ban uranium mining and exploration in the Danish territory,
effectively blocking the development of the vast Kvanefjeld rare earths project, one of the world’s biggest.
The project was being developed
by Australia’s Greenland Minerals (ASX: GGG).It was granted preliminary approval in 2020
and was on track to gain the previous government’s final endorsement.
While the miner hasn’t issued a statement on the matter,
its shares
were placed on a trading halt on Wednesday, pending “the release of an announcement”.Trading
will remain suspended until Friday morning or the publication of the company’s statement”,it said in a notice to the Australian Stock Exchange.
The decision to ban uranium mining and exploration
follows through on a campaign promise from the ruling left-wing party elected in April,
which had publicly stated its intention to block Kvanefjeld’s development, due to the presence of the silvery-gray, radioactive metal as a by-product.
The law, passed by parliament late on Tuesday, lines up with the new coalition government’s strategy
to focus efforts on promoting Greenland as environmentally responsible.
The new regulation
also includes the option of prohibiting exploration of other radioactive minerals, such as thorium.– MINING
https://www.mining.com/greenland-bans-uranium-mining-blocking-vast-rare-earths-project/
The World Wants Greenland’s Minerals, but Greenlanders Are Wary
https://www.nytimes.com/2021/10/01/business/greenland-minerals-mining.html